Nvidia, Simon Property Group, BNY Mellon: What to Watch When the Stock Market Opens Today
19 November 2020 - 11:33PM
Dow Jones News
Mischa Frankl-Duval
Here's what we're watching as markets kick into gear
Thursday:
-- U.S. stock futures edged lower as new restrictions imposed to
curb rising coronavirus infection levels weighed on the economic
outlook.
More than a quarter million Americans have died from Covid-19,
and the timing of vaccine production remains an open question.
Futures tied to the S&P 500 and the Dow Jones Industrial
Average both ticked down 0.2%. Contracts linked to the tech-heavy
Nasdaq-100 dropped 0.3%.
Read our full market wrap here.
-- What's coming up. Macy's will report earnings premarket.
TurboTax maker Intuit Inc. and cloud-software company Workday will
update investors after markets close.
-- U.S. jobless claims, due at 8:30 a.m. ET, likely held
relatively steady last week, indicating continued challenges for
the U.S. economic recovery. Economists surveyed by The Wall Street
Journal forecast that new unemployment claims came in at a
seasonally adjusted 710,000 last week, up slightly from the 709,000
filed a week earlier.
-- U.S. existing-home sales come out at 10 a.m, with some
economists expecting gains could moderate in October, and heading
deeper into the fall, as the supply of for-sale homes dwindles and
asking prices rise. -- Olema Pharmaceuticals, which works on
therapies for women's cancers, is expected to begin trading after
pricing its IPO at $19 a share. Chinese cosmetics company Yatsen
Holding is also expected to start trading today after pricing its
American depositary shares at $10.50 apiece.
Market Movers to Watch
-- Simon Property Group fell 2.8% in premarket trade. The
company yesterday priced an upsized public offering of stock at
$72.50 per share.
-- Chip maker Nvidia fell 1.7% despite reporting
better-than-expected revenue and earnings after market close
yesterday.
-- Bank of New York Mellon fell 1.5% after Keefe, Bruyette &
Woods cuts its rating on the stock.
-- Coronavirus-vaccine developers Moderna and Pfizer were both
rising more than 1% ahead of the bell.
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(END) Dow Jones Newswires
November 19, 2020 07:18 ET (12:18 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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